The city of Lugano in Switzerland will launch a Bitcoin-pegged stablecoin

ChainCatcher news, according to Crypto.news, the city of Lugano in Switzerland has announced the launch of a Bitcoin-pegged stablecoin, Lugano (LUGA), which can be used for payments at over 350 merchants throughout the city. Approximately 20% of Lugano's population holds an active Lugano wallet. Starting from December 1, the Lugano city government will also begin accepting Bitcoin for tax payments.

In addition, Lugano has announced a $50 million fund for startups in the cryptocurrency and blockchain sectors, focusing on areas including Bitcoin core development pools, Lightning Network development pools, and public projects.